 Russian President Vladimir Putin stated the U.S. has an unstable approach to the world and declared the "end of the era of the unipolar world." Putin made the remarks at the St. Petersburg International Economic Forum in Russia. His speech was delayed more than 90 minutes due to a large cyberattack on the conference's systems. More: - During the speech, he claimed that the U.S. had declared itself "God's own representatives on earth," with no responsibilities but rather only thoughts of its own interests. According to him, this approach started after the Cold War.
- He also said that the West is falsely accusing Russia of being the main cause of the recent global inflation, referring to numerous reports that if Ukraine cannot export its wheat, more than 50 million people are at risk of dying from famine.
- Russia's currency, the ruble, has recently reached all-time highs due to the continued gas trades that the country has conducted. The sanctions imposed by the Western countries have proven partially effective, but it has become increasingly clear that Russia's main export, energy, is the key to its goals in invading Ukraine.
- Ukraine has stepped up its requests that the West send more weapons to help combat the Russian army, especially as Russia has made significant progress in the eastern part of Ukraine. The requests also include thousands of drones and armored vehicles.
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U.K. Prime Minister Boris Johnson stated that he believes Ukraine should host the 2023 Eurovision. That would continue the tradition of the winning country hosting the following year's contest, but Eurovision planners said on Friday that it would be too unsafe. They have discussed holding it in the U.K. instead after its second-place finish. More: - Johnson gave an interview to journalists after landing from his recent visit to Ukraine, stating that the people in Kyiv were confident and looked lively.
- Ukraine won the 2022 Eurovision contest as Kalush Orchestra earned 631 points, beating the U.K., whose second-place showing was its best in 24 years. The Ukrainian band won with a song that represented a mix between traditional folklore music and modern elements such as hip-hop. The U.K. won the Jury Prize.
- Ukraine has said that it believes it can guarantee safety for the Eurovision contest.
- IF the U.K. hosts, it would be the fifth time it has taken over hosting duties for other countries. The previous four times: 1960 (the Netherlands), 1963 (France), 1972 (Monaco), and 1974 (Luxembourg).
- Eurovision 2022 had over 161 million viewers.
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 A message from KALSHI Event contracts are here. Last week, Bloomberg covered the story of the first CFTC regulated prediction market, Kalshi. For the first time, traders now have the ability to buy the asset class: regulated Event Contracts. More: - We couldn’t believe it when we saw that these markets have been live for almost a year.
- With inflation at 8.3%
- Inflation rates climbing 50-75 bps each month
- The S&P 500 down 22% in 2022
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- Instead of trading noise in the stock market, predict outcomes of events. Or if you want to stick with what you know, trade options on stock indices with as little as $1.
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 Bitcoin has dropped below $20,000, falling more than 70% from its previous all-time high. The drop is being attributed to the current economic crisis. More: - Bitcoin was trading at $19,420 at 7:30 a.m. EDT Saturday.
- The cryptocurrency has dropped 33% in just seven days. Its all-time high was $68,990, which happened in Nov. 2021.
- Bitcoin's fall has been accelerated by the wider reactions in the cryptocurrency industry. Celcius, one of the largest lenders in crypto, announced that its users would not be able to withdraw their funds. Only a few weeks ago, Luna, a currency that was largely considered relatively risk-free, crashed.
- Three Arrows Capital, a hedge fund that focuses on crypto investments, had invested $200M in Luna, causing the company to face bankruptcy.
- Other cryptocurrencies, such as Ethereum, have also faced significant downturns. ETH has dropped to $1,011, down from more than $3,000 a year ago.
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 Good News: A teenager saved a young woman who was drowning, who turned out to be his classmate. The woman had accidentally driven her car into the Atlantic Ocean. More: - An 18-year-old woman named Mia Samolinski accidentally stepped on the gas pedal instead of the brake while pulling out of a parking spot at the docks of Long Island's Patchogue Bay, sending the car into the water.
- 17-year-old Anthony Zhongor got out of his car and dove in after Samolinski.
- Samolinski couldn't get the door open as the latching mechanism was submerged in water, but Zhongor found that his body weight could make the car's nose tilt down, pulling its tail end out of the water and allowing Samolinski to escape out the back.
- The two later found out they had attended the same high school.
- Zhongor recently joined the U.S. Marine Corps and will head to South Carolina for boot camp this year.
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 A message from LAIKA If you’re trying to close deals, SOC 2 is probably a thorn in your side. What is it, and who cares? Your business needs SOC 2. But building compliance from scratch is complicated, time-consuming, and the cost can be crippling. Laika has you covered. Uncomplicate SOC 2 with our guide for growth-minded founders. In the guide by Laika you’ll learn: - What is SOC 2 compliance and why it matters for your startup
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 One firefighter in Philadelphia died and five others were rescued after a burned building collapsed. All of the victims had to be pulled out of the ruins as the mission lasted for hours. More: - The firefighter who died due to the collapse was identified as Lt. Sean Williamson, a 27-year veteran of the Philadelphia Fire Department.
- First responders arrived at around 2 a.m. and knocked down the fire in about 15 minutes.
- But at about 3:24 a.m., as firefighters and a city inspector were surveying the scene, the building collapsed.
- The five survivors were transported to Temple University Hospital. The inspector and two firefighters have been released, with the remaining two listed in critical but stable condition.
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 Japan's top court said the government is not liable for damages stemming from the Fukushima nuclear disaster. The ruling is the first in a group of similar cases and could set precedent. More: - The Fukushima nuclear disaster happened in 2011 after a 9.0-magnitude earthquake off Japan's coast caused a tsunami, which hit the plant and caused the worst nuclear disaster since Chernobyl in 1986.
- Citizens who had sued the government also claimed that Tepco, the national electric power company of Tokyo, is responsible for the damages that were caused. In March, the Supreme Court upheld an order for Tepco to pay 1.4B yen ($8M) in damages.
- Officials from the Japanese government stated that Japanese citizens would have their support, regardless of the decision by the court.
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- Officials in Uvalde, Texas, are using a legal loophole to block the release of police records related to last month's school shooting that killed 19 people.
- A new malware that contains the "Matanchubus" variant has been tracked by security researchers.
- President Joe Biden escaped significant injury after falling off his bike during a morning ride on Saturday.
- Sadio Mane, the Senegalese forward who played for Liverpool until this season, has been transferred to the Bundesliga champion, Bayern Munich.
- Members of a production team for "The Late Show with Stephen Colbert" were arrested while filming a "Triumph the Insult Comic Dog" comedy segment in the U.S. Capitol.
- A hacker in California who was accused of stealing nude photos from iCloud accounts has been sentenced to nine years in prison. The hacker was a 41-year-old man from La Puente, California.
- Business owners in towns near Yellowstone National Park are worried about the economic situation as flooding and related damage have closed the park. The southern loop could reopen next week, which would allow access to Old Faithful geyser, but towns at the northern entrances could have to wait two years for roads to be rebuilt.
- A gravestone in South Korea has been placed to mark the death of Microsoft Internet Explorer, memorializing it as a "good tool to download other browsers."
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Art of the Day 
Nashville by majozaur
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Upcoming events at Inside: - June 22 - AMA with Daniel Stedman (Pressto) (Register Here)
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- September 14 - Are Electric Cars Worth It? (Register Here)
*This is a sponsored listing.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
Trade directly on the future with Kalshi, the first regulated exchange for event trading. | |
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